Today’s Market Movers: KOG, PEIX, ATMI, SPRD

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Nov 16th, 2011 | By | Category: Featured, Investing Strategies, Penny stocks

Stocks are fighting to turn positive after opening significantly lower this morning. European debt concerns remain on the front-burner today, but stocks appear to be strongly resisting any move lower. Still, action has been choppy at best. If you’re attempting to trade this market, I advise you to prepare yourself for the unexpected. Strict stop losses are a must…

Despite the prevailing uncertainty, the market is showing some compelling long setups. Let’s take a look at some of the names that are in play today:

Kodiak Oil & Gas Corp. (NYSE:KOG): With oil back up above $100 this morning, plenty of independent oil and gas stocks are in play. KOG hit new highs this morning on strong volume. It has been one of the best performers in this sector, showing gains of more than 17% over the past two weeks:

Kodiak Oil & Gas Corp.

Pacific Ethanol Inc. (NASDAQ:PEIX): After posting some unbelievable gains this month, PEIX appears to be running out of steam. Sure, this stock could extend its recent run for a little longer, but I would not want to dive into this name on the long side right now. It’s much too overbought — and due for a correction. Once the momentum players are shaken out, this stock could very well return to its losing ways:

Pacific Ethanol Inc.

ATMI Inc. (NASDAQ:ATMI): A strong semiconductor name, ATMI is attempting to break above recent highs this week. $21.48 is the price to watch for a clean breakout — that’s the stock’s 52-week high. Trading in this name has diminished significantly in November, so I would recommend waiting for volume confirmation — at least 250,000 to 300,000 shares on the day — before taking the plunge with a swing trade:

ATMI, Inc.

Semiconductor stocks were on fire earlier this year, and are now once again on pace to outperform the market averages. In fact, the Dow Jones US Semiconductor Index is attempting to post new short-term highs this week:

Dow Jones US Semiconductors Index

ATMI is a solid small-cap option if you’re looking to play this trend. If you’re looking for a semiconductor stock with a market cap of $1 billion or more, you might also consider the Chinese ADR Spreadtrum Communications Inc. (NASDAQ:SPRD), which is posting new 52-week highs today:

Spreadtrum Comm.


Greg Guenthner
for The Penny Sleuth

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Greg Guenthner

Greg Guenthner, CMT, is the co-editor of STORM Signals and Penny Stock Fortunes. He is also the editor of Agora Financial’s Trend Playbook, a free resource for trend followers and technical traders. For close to a decade, Greg has led Agora Financial’s small-cap division, where he founded one of one of the only independent OTC research advisories in the industry. Greg specializes is classical trading techniques and combines timing strategies with his fundamental analysis of small-cap stocks.

He is a member of the Market Technicians Association and hold the Chartered Market Technician designation. 

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